Business Owners

We can help you secure your business success and personal wealth

As the owner (or co-owner) of at least one established company you will have worked hard, for everything you have achieved and be passionate about what you do and what your organisation has to offer. You will have a strong vision, and a great level of determination and drive, ensuring that your organisation continues to be a success and ultimately continues to grow and thrive.

Whilst you will have people on hand that you can confidently delegate to, as the owner/manager of the company, it is likely you will still have a long ‘to-do’ list as well as some important decisions to make. This aside, you will love being in control of your own destiny and the freedom and flexibility that this brings – although, in reality it often means working long hours, sometimes making personal sacrifices and often putting off certain tasks that you know you should be addressing.

As a business owner, you will be well aware that you should always be planning ahead and considering the bigger picture – but with a lack of time, and a watchful eye on resources, you may not feel there is an urgent need to address this. In addition you may not feel you are in contact with a professional that you know or trust, and to explore this further would just create another task for that ‘to-do’ list!

What should you be considering?

Ask yourself the following questions and give some serious thought about what the impact would be upon you, your co-owners and the families of all those involved if any of these events should occur?
  • If I become unable to work due to ill-health, how long will I be able to continue drawing an income for? What impact would this have upon my current lifestyle? How would this impact upon the co-owners of the company and the families of all those involved?
  • If I lose a key person within the company what impact would that have on the daily running of the company? Do we have anyone else who could step into their shoes and pick up the pieces of their workload? What impact would this have on the business efficiency, profitability and future security?
  • Are we complying with our workplace pension responsibilities as we should be? Do we have a suitable scheme in place? Are we dealing with our responsibilities in the correct time frame?
  • In the event of my death, what would happen to any outstanding Directors Loan Accounts? Would these be paid to my family? Would the company have sufficient funds available?
  • If I lose a Co-Director what happens to their shares, will I still maintain control and ownership of the company? Likewise, if I were to die how would my family benefit financially? Would this impact upon our inheritance tax position?
  • What would be the impact if I do not address my concerns now? By leaving it to chance, am I leaving myself, my family, my Co-Owners, staff and their respective families exposed in any way?
If you need advice in planning for any, or all, of the above scenarios, please contact us today for an initial face-to-face discussion, at no obligation or cost, about your business requirements.

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